The 2016 BDO report on ‘Doing Business in Israel 2016’ provides comprehensive information for Australians interested in engaging with the Israeli market.
The report reviews recent macroeconomic tendencies, socioeconomic and demographic trends, Israel’s general business environment, accounting considerations, taxation and government tax incentives, investment incentives and trade advantages.
Some excerpts from the report:
The Israeli economy is enjoying its 14th consecutive year of growth, demonstrating strong resilience to global crises and to the regional geopolitical situation.
In 2015, Israel showed a solid economic performance compared with most developed countries. While the average growth rate in developed countries stood at 2%, owing to uncertainties in the global context against the backdrop of the geopolitical crisis, Israel in 2015 showed a growth rate of 2.5%.
The growth rate is expected to be around 2% in 2016, projected to pick up to 2.5% in 2017, and then return to the long term average of approximately 3.5-4% by 2020.
An accommodating central bank monetary policy, fiscal easing in 2016, lower oil prices, a further increase in the minimum wage over the next two years and an expected recovery in foreign markets are all expected to contribute to boosting local demand.
Israel has flourished into one of the leading high-tech countries in the world. The high-tech industry has contributed greatly to Israel’s economy and will continue to be a key driver in the future. 2015 was characterized by a positive trend in the high-tech sector, reflected by an impressive number of 104 exits for a total amount of $9.02 Billion, an increase of approximately 16% from 2014.
In 2015, approximately 708 Israeli high-tech companies raised $4.4 billion from local and foreign investors. This figure is 29% higher than the $3.4 billion raised in 2014, and 90% higher than the $2.3 billion raised in 2013.
To view the full report, click here.
For more information on doing business with or investing in Israel, contact our office.